Quah Su-Ling: Pressure from plaintiff behind high volumes
Interactive Brokers suing Ipco CEO and clients for $79m in losses
IPCO International chief executive Quah Su-Ling, who is among eight clients sued in High Court over $79 million in losses sustained by Interactive Brokers (IB) in the wake of the penny stock crash, has alleged the US online brokerage was involved in a "commission-generating scheme".
According to court documents inspected by The Business Times, Ms Quah, who is seeking to unfreeze nearly $15 million in assets belonging to her and her company Sun Spirit Group, said she does not recall signing the broker's account-opening documents or completing any forms.
The large-volume trades in the shares of Asiasons Capital, Blumont Group and LionGold Corp from her account and that of …
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